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Lac Rocher
Location: Manitoba, Canada High-grade discovery of a 3.2m massive sulphide intersection returning a weighted average of 10.8% Ni as part of a 61.5m interval grading 1.69% nickel. Near-surface resource with year round all-weather access road to the property.
A Preliminary Economic Assessment (PEA), which assumes offsite processing of mined material, was completed in 2008. The PEA envisions the Lac Rocher deposit being contract mined in two phases using mechanized cut-and-fill mining over a span of 24-26 months. In Phase One, 65,000 tonnes would be extracted at 1.75% nickel, 0.57% copper and 0.062% cobalt; in Phase Two an additional 252,730 tonnes would be extracted at 1.52% nickel, 0.59% copper and 0.051% cobalt. All extracted material is assumed to be transported offsite for processing at the Copper Rand mill in Chibougamau, Quebec. The Company is reviewing the PEA to identify capital and operating cost savings and is evaluating the potential to use DMS (Dense Media Separation) technology for onsite upgrading of mined material in order to lower transportation costs. In addition, an all-weather access road has been completed and the Company continues to advance permitting in order to be in a position to commence mining when metal prices reach appropriate levels.
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